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Treasurer: Columbus tax-incentive review returns roughly $44,000; Kologix data center to add future tax revenue
Summary
Worthington treasurer TJ Cusick reported the Columbus Tax Incentive Review Council found four incentives in compliance, the district will receive about $44,000 this year, and the Kologix data center is projected to add significant property-tax value after abatements.
Treasurer TJ Cusick told the Worthington Board of Education the Columbus Tax Incentive Review Council (TURC) reviewed incentives located in the district and found them in compliance, and the city will distribute roughly $44,000 to the district for payroll threshold exceedances.
Cusick said Columbus currently has four active incentives inside Worthington Schools’ boundaries; each was below the threshold that would have required direct school-board approval. He identified one new project, a Kologix data center on Altaview, whose construction is nearly complete and will be on the tax rolls next year.
Cusick gave the district-level tax estimate the city provided: an anticipated building value of $61,000,000 that, when fully taxed, could generate about $1,600,000 in annual property tax revenue for the district. He said 75% of that value is abated in the first 10 years, producing a net of roughly $400,000 annually during the abatement period, with the potential for the full $1,600,000 impact after abatements expire if the assessed value holds.
Cusick also reminded the board his office’s employee insurance committee will meet Sept. 5 to review recommended changes and rates for medical, dental and vision programs for the next year.
Board members had no additional questions at the time; these items were reported, not acted on.
